I'm looking at a multi family house, both units have two bedrooms living room kitchen, house is in good shape and there is a nice back yard. The price is right but I'm nervous because the bedrooms are tiny and there is no driveway. Does anyone think that these factors are deal breakers? I want to make moves on this but it will be my first deal and I'm afraid I won't be able to keep it rented.
None of those are true "Deal Breakers." They will, however reflect on the rent you can get, and therefore the price you can pay. Do you know anything about the rental history? How about comparable rental units in the area?
The owners currently live upstairs and the downstairs was rented to their family now vacant because they are moving south.
I know there are some rentals in the neighborhood including both college rentals and section 8 so I don't know what to make of that. Up and coming maybe?